Preparing a Will and/ or enduring power of attorney will be provided free of charge when the Public Trustee is appointed as executor and attorney for Seniors and Australian Government Pensioner concession card holders (card must be presented and discount only applies to one appointment per year).

Existing clients of the Public Trustee will receive a 10% discount on the preparation fees when they revise their Will and/or enduring power of attorney.

Fees for couples are based on the assumption instructions and intended Wills are substantially similar.

Estate planning preparation fees are based on an appointment time of 1.5 hours. Couples will be booked in for a 2-hour appointment.

Will preparation fees are based on an appointment time of 1 hour. Couples will be booked in for 1.5 hours.

Any additional time required will be charged at $430 per hour (pro-rata).

Time and travel fees apply for out of office attendances, such as hospital or home visit.

Cost to administer your estate

If we are appointed as your sole executor, fees apply only to assets that are NOT jointly owned.

Preparing a Will and/ or enduring power of attorney will be provided free of charge when the Public Trustee is appointed as executor and attorney for Seniors and Australian Government Pensioner concession card holders (card must be presented and discount only applies to one appointment per year).

Existing clients of the Public Trustee will receive a 10% discount on the preparation fees when they revise their Will and/or enduring power of attorney.

Enduring power of attorney preparation fees are based on an appointment time of 30 minutes per document.

Any additional time required will be charged at $430 per hour (pro-rata).

Time and travel fees apply for out of office attendances, such as hospital or home visit.

To act as attorney

If the Public Trustee is acting as the attorney, a pro rata fee of $115 per hour will be charged. A time sheet is kept and fees will be charged quarterly.

Income Commission

The Public Trustee charges 6.6% commission on the receipt of all income such as interest, dividends, pensions and rental income (where the Public Trustee is managing the property). 3.3% commission is charged on rental income where the Public Trustee is not managing the property.

Investment Management Fee

A 1.1% investment management fee may apply to invested funds not directly managed by the Public Trustee.

The following fees and charges may apply:

account keeping fee ($13.50 per month);

domestic cheque drawing ($6.00) and direct credit ($3.20);

international bank transfers ($24.00) and international bank drafts ($32.00), excluding any 3rd party transaction and processing fees;

investment review fees for developing an investment strategy for the client portfolio. The fee charged is dependent upon the complexity of individual circumstances;

depending on the complexity of the matter a fee will be charged for the preparation and lodgment of income tax returns and other taxation services including the establishment of the acquisition details of assets for capital gains tax purposes;

a fee for conveyancing and other services provided in relation to the sale, purchase or transfer of a property; and/or

work of a particularly complex nature not covered above will be charged at an hourly rate.

Legal Services

Services provided by our legal practitioners are charged at a rate determined by the Public Trustee but not exceeding the maximum hourly attendance rate set out in the Supreme Court Rules 2000.

You will receive services from a team of highly skilled professionals who specialise in Wills, deceased estate administration, trust law and financial administration.

Estate Administration Fees and Charges:

If you own assets as a joint tenant (e.g. your house, bank accounts etc.)

0%

If you have solely-owned assets which are classed as ‘matrimonial assets’ and which are transferred to your surviving spouse or de facto partner – for example the family home, motor vehicle, household effects and furniture.

2.2%

If assets held in your sole name are realised or transferred to a beneficiary, the following fees apply:

On the first $100,000 or part

4.4%

On the next $200,000 or part

3.3%

On the next $200,000 or part

2.2%

On amounts above $500,000

1.1%

Minimum fee is $343.

Income Commission

The Public Trustee charges 6.6% commission on the receipt of all income such as interest, dividends, pensions and rental income (where the Public Trustee is managing the property). 3.3% commission is charged on rental income where the Public Trustee is not managing the property.

Investment Management Fee

A 1.1% investment management fee may apply to invested funds not directly managed by the Public Trustee.

The following fees and charges may apply:

account keeping fee ($13.50 per month);

domestic cheque drawing ($6.00) and direct credit ($3.20);

international bank transfers ($24.00) and international bank drafts ($32.00), excluding any 3rd party transaction and processing fees;

investment review fees for developing an investment strategy for the client portfolio. The fee charged is dependent upon the complexity of individual circumstances;

depending on the complexity of the matter a fee will be charged for the preparation and lodgment of income tax returns and other taxation services including the establishment of the acquisition details of assets for capital gains tax purposes;

fee for conveyancing and other services provided in relation to the sale, purchase or transfer of a property; and/or

work of a particularly complex nature not covered above will be charged at an hourly rate.

Legal Services

Services provided by our legal practitioners are charged at a rate determined by the Public Trustee but not exceeding the maximum hourly attendance rate set out in the Supreme Court Rules 2000.

Emergency Orders

If the Guardianship and Administration Board makes an emergency order to appoint the Public Trustee as your financial administrator, the following fees apply

management fees are to be charged on an hourly rate basis ($115);

no capital commission will be taken; and

income commissions will be taken in accordance with standard rate.

A time sheet is kept on file for these matters.

If an Emergency Order is converted to a Full Order

the hourly fees charged to the date of the conversion will be waived; and

capital commissions will be taken in accordance with standard rates.

Permanent Appointment

From 1 January 2016, if the Guardianship and Administration Board appoints the Public Trustee as a financial administrator, the following fees will be charged:

For clients with assets under $10,000

no capital commission;

no monthly account fees; and

no income commissions.

For clients with assets between $10,000 and under $100,000

no capital commission;

no monthly account fees; and

a 2.75% reduced fee is charged on the receipt of all income such as interest, dividends and pensions.

For clients with assets over $100,000

$575.00 one-off establishment fee;

when the administration ends, a commission of 2.2% is taken on the current value of the assets which have not been realised during the administration;

a fee on any assets realised during the financial administration (e.g. collection of bank account, property sale) is charged at the same rate as administering an estate (see the chart below)

On the first $100,000 or part

4.4%

On the next $200,000 or part

3.3%

On the next $200,000 or part

2.2%

On amounts above $500,000

1.1%

a $62.00 fee is charged for completing the annual report required by the Guardianship and Administration Board; and

a $143.00 fee is charged for completing the 3 yearly review and report required by the Guardianship and Administration Board.

Income Commission

The Public Trustee charges a 6.6% fee on the receipt of all income such as interest, dividends, pensions and rental income (where the Public Trustee is managing the property). The fee is reduced to 2.75% for represented person clients with assets between $10,000 and under $100,000. No fee is charged for clients with assets under $10,000.

A 3.3% fee is charged on rental income where the Public Trustee is not managing the property.

If income is received from an estate administered by the Public Trustee there is a 3.3% fee.

Investment Management Fee

A 1.1% investment management fee may apply to invested funds not directly managed by the Public Trustee.

The following fees and charges may apply:

account keeping fee ($13.50 per month);

domestic cheque drawing ($6.00) and direct credit ($3.20);

international bank transfers ($24.00) and international bank drafts ($32.00), excluding any 3rd party transaction and processing fees;

investment review fees for developing an investment strategy for the client portfolio. The fee charged is dependent upon the complexity of individual circumstances;

depending on the complexity of the matter a fee will be charged for the preparation and lodgment of income tax returns and other taxation services including the establishment of the acquisition details of assets for capital gains tax purposes;

fee for conveyancing and other services provided in relation to the sale, purchase or transfer of a property; and/or

work of a particularly complex nature not covered above will be charged at an hourly rate.

Legal Services

Services provided by our legal practitioners are charged at a rate determined by the Public Trustee but not exceeding the maximum hourly attendance rate set out in the Supreme Court Rules 2000.

Acting as trustee of a court awarded trust

The Public Trustee might be appointed trustee of a court awarded trust, for example:

damages trusts;

MAIB Compensation (Minor) trusts;

Criminal Injuries Compensation trusts;

Workers Compensation trusts; or

Workers Compensation (Deceased Worker) trusts.

The following capital commission is charged:

On the first $100,000 or part

2.75%.

On the next $400,000 or part

2.2%

On amounts above $500,000

1.1%

The minimum Capital Commission is $118.

Acting as trustee arising from an estate

In the case of a trust that arises from an estate, once the estate administration phase is complete, our role changes from executor or administrator to that of trustee. The nature of the administration then changes from an estate to a trust.

No further capital commission will be charged, however other costs will apply.

Appointed as a new trustee

You can request us to act as a new trustee of a trust. The request will be reviewed by our corporate solicitor prior to acceptance of that appointment.

Capital commissions will be charged on the gross value of any unrealised assets handed over to us by a former executor, administrator or trustee as follows:

On the first $100,000 or part

4.4%

On the next $200,000 or part

3.3%

On the next $200,000 or part

2.2%

On amounts above $500,000

1.1%

Capital commissions on realised assets (capital and income) handed over to the Public Trustee by a former executor, administrator or trustee will incur a 2.2% fee.

Acting as trustee for a genuine trust

A ‘genuine trust’ is established during the lifetime of a testator (a person who makes a valid will) for the benefit of a third party. We are then required to administer the Will as executor of the testator’s estate.

No capital commission will be raised in the original estate, although other costs will apply.

Other Costs that apply to trusts

Income Commission

The Public Trustee charges a 6.6% fee on the receipt of all income such as interest, dividends, pensions and rental income (where the Public Trustee is managing the property).

A 3.3% fee is charged on rental income where the Public Trustee is not managing the property.

If income is received from an estate administered by the Public Trustee, there is a 3.3% fee.

Investment Management Fee

A 1.1% investment management fee may apply to invested funds not directly managed by the Public Trustee.

The following fees and charges may apply:

account keeping fee ($13.50 per month);

domestic cheque drawing ($6.00) and direct credit ($3.20);

international bank transfers ($24.00) and international bank drafts ($32.00), excluding any 3rd party transaction and processing fees;

investment review fees for developing an investment strategy for the client portfolio. The fee charged is dependent upon the complexity of individual circumstances;

depending on the complexity of the matter a fee will be charged for the preparation and lodgment of income tax returns and other taxation services including the establishment of the acquisition details of assets for capital gains tax purposes;

a fee for conveyancing and other services provided in relation to the sale, purchase or transfer of a property; and/or

work of a particularly complex nature not covered above will be charged at an hourly rate.

Legal Services

Services provided by our legal practitioners are charged at a rate determined by the Public Trustee but not exceeding the maximum hourly attendance rate set out in the Supreme Court Rules 2000.